Primecap Management Co. CA Cuts Position in Intel Co. (NASDAQ:INTC)

Primecap Management Co. CA trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,049,937 shares of the chip maker’s stock after selling 217,175 shares during the period. Intel comprises about 1.2% of Primecap Management Co. CA’s portfolio, making the stock its 24th biggest position. Primecap Management Co. CA owned 1.78% of Intel worth $1,544,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its stake in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Intel by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after purchasing an additional 2,248,342 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock valued at $613,855,000 after purchasing an additional 86,483 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTC. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Finally, Truist Financial lowered their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.04.

Intel Price Performance

Intel stock opened at $25.69 on Tuesday. Intel Co. has a one year low of $18.51 and a one year high of $45.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The business has a fifty day moving average of $21.56 and a two-hundred day moving average of $21.90. The company has a market cap of $111.24 billion, a P/E ratio of -5.87 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. As a group, analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.